I never really understood how competitors get so far ahead in branding. The idea of spending $500k per month on advertising seemed absurd. But that seems to be the best way to do it! Range Branding seems to be the best way for me. This tutorial explains how to get your Marketing Strategy intact.
Lessons about setting your Marketing Strategy:
1. Set to Range Branding
Range Branding is very useful as you only need to start with 1 product to pave the road for the product class in the future. You can easily take a small loss by covering them with other port goods to survive as your branding improves.
2. Produce the first item and sell with Advertising at $500k
Sell your first product at the best Media firm (highest rating points) and spend the max ($500k). Be prepared to lose money but you can try to even it out by selling 3 more goods from the port.
3. Sell your product at a lower price as your brand grows
You want to set your price low to be able to compete and sell (aim for an overall of 40) and then let the band kick in.
4. Brand grows quicker in smaller cities
The more the population the more time it takes to get branding.
5. As your brand grows, increase your price
As your brand becomes better, you can set a higher price. If your product has branding playing a huge role on the overall rating, you are in luck!
6. Introduce more products in the range
Enjoy the branding for your new products in the same range and print $
7. Once branding hits 100 balance your advertisement budget
I aim for $250k to try and balance my advertisement as it won’t increase or decrease but stay consistent.
What do you think? Leave a comment below 🙂